Sber Launches Bitcoin-Linked Bonds as Russia Embraces Regulated Crypto Products
Russia’s largest bank, Sber, has introduced a new Bitcoin-linked bond product that already trades on over-the-counter markets and will soon be listed on the Moscow Exchange. The financial instrument is tied to returns linked to the dollar price fluctuations of Bitcoin and the USD/RUB exchange rate.
Bitcoin-Linked Bonds Now for Eligible Investors
Sber, formerly Sberbank, announced that it is commencing on May 30. To date listed only to accredited investors on the OTC markets, the bank wishes to list the product on Russia’s prime stock exchange to enhance transparency and liquidity.
According to Sber, the fixed bond earns proceeds based on both the dollar value of Bitcoin (BTC) and the appreciation of the U.S. dollar against the Russian ruble. Surprisingly, payments are made in rubles in full, thus precluding the involvement of crypto wallets or offshore platforms.
Broader Crypto Access via SberInvestments Platform
Sber also revealed upcoming exchange-traded crypto instruments via its SberInvestments platform. The first product, on Bitcoin futures, will be tradable on June 4, pending the official launch date on the Moscow Exchange.
Regulatory Green Light from the Bank of Russia
Sber’s move follows fresh guidelines from Bank of Russia on May 28, to allow accredited investors to access crypto-related financial products—although not cryptocurrencies themselves. T-Bank (formerly known as Tinkoff Bank) launched its own Bitcoin-related investment product on the same day, calling it a “smart asset” issued on Atomyze, a state-backed tokenization platform.
Russians presently hold over 827 billion rubles ($9.2 billion) of crypto assets on centralized exchanges, according to the central bank’s Q1 2025 report. Inflows to local crypto platforms grew 51% in the same period to 7.3 trillion rubles ($81.5 billion).
Bitcoin dominates Russian crypto trades, with a 62% market share, followed by Ether, with 22%, and stablecoins like Tether and USDC cover the balance.
Sber’s foray into crypto-linked products is a turning point in Russia’s emerging regulatory approach to digital assets, opening up broader access to Bitcoin-related investments in a compliant financial space.
